Cons law Final Questions and Solutions

CONS LAW Which group does not have their own standard form construction contracts? A. American Institute of Architects (AIA) B. Associated General Contractors of America (AGC) C. American Institute of Constructions (AIC) D. The Engineers Joint Contract Documents Committee (EJCDC) ANSWER: American Institute of Constructions (AIC) A contract ______________________ . (Select one) A. cannot be formed by actions alone B. must be a written document C. is a promise D. is like a specification ANSWER: is a promise Most of the laws that we encounter are written by _____________________________ . (Select one) A. State legislatures B. Regulatory agencies. C. The court system D. the U.S. Congress ANSWER: Regulatory agencies. Which statement is false? (Select one) A. Donative promises are enforceable as contracts. B. Detriment is an element of the consideration necessary to form an enforceable contract C. Benefit is an element of the consideration necessary to form an enforceable contract D. Bad bargains still make valid contracts ANSWER: A. Donative promises are enforceable as contracts. This type of contract can occur without spoken words of agreement. (Select one) A. implied-in-fact B. quasi-contract